Blog by RB Associates and Tax Matters

The Madras High Court recently made a big decision about Input Tax Credit (ITC)

Micro, Small, and Medium Enterprises (MSMEs) continue to be the lifeblood of India’s economy, contributing nearly 30% to the GDP and employing over 110 million people.

The Goods and Services Tax Network (GSTN) has issued a crucial advisory urging taxpayers to file all pending GST returns before the expiry of a three-year window.

The rollout of the Invoice Matching System (IMS) has brought increased transparency and accountability to India’s GST framework. However, users sometimes inadvertently reject genuine records—such as invoices, debit notes, or credit notes—leading to compliance and reconciliation challenges.

As we navigate 2025, tax planning is no longer just a year-end ritual—it’s a year-round strategy. With evolving tax laws, digital income norms, and inflationary pressures, being proactive can help you save more and stay compliant.